Sportradar Group (NASDAQ:SRAD) Trading 5% Higher – Here’s Why

Shares of Sportradar Group AG (NASDAQ:SRAD) shot up 5% during trading on Thursday . The stock traded as high as $19.39 and last traded at $19.2830. 948,070 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 2,733,354 shares. The stock had previously closed at $18.36.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus started coverage on Sportradar Group in a research note on Thursday, January 22nd. They set a “buy” rating and a $28.00 price objective for the company. The Goldman Sachs Group lowered their target price on shares of Sportradar Group from $35.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. Truist Financial set a $32.00 target price on shares of Sportradar Group in a research report on Tuesday, March 3rd. BTIG Research reduced their price target on shares of Sportradar Group from $32.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Sportradar Group from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.16.

Sportradar Group Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.36. The firm has a market capitalization of $5.81 billion, a P/E ratio of 58.82 and a beta of 2.00. The company’s 50 day moving average price is $18.30 and its 200 day moving average price is $22.88.

Sportradar Group (NASDAQ:SRAD) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). The firm had revenue of $432.81 million for the quarter, compared to analyst estimates of $369.59 million. Sportradar Group had a return on equity of 10.32% and a net margin of 7.73%.The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Sportradar Group AG will post 0.15 EPS for the current fiscal year.

Institutional Trading of Sportradar Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRAD. Rockefeller Capital Management L.P. lifted its position in Sportradar Group by 4,969.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,982 shares of the company’s stock valued at $142,000 after purchasing an additional 5,864 shares during the period. Hsbc Holdings PLC lifted its holdings in Sportradar Group by 29.1% in the fourth quarter. Hsbc Holdings PLC now owns 91,798 shares of the company’s stock valued at $2,209,000 after buying an additional 20,672 shares during the period. SHP Wealth Management bought a new position in Sportradar Group in the fourth quarter valued at approximately $86,000. Sit Investment Associates Inc. grew its holdings in Sportradar Group by 55.9% during the 4th quarter. Sit Investment Associates Inc. now owns 144,225 shares of the company’s stock worth $3,428,000 after acquiring an additional 51,700 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Sportradar Group by 24.9% during the 4th quarter. Pacer Advisors Inc. now owns 6,230 shares of the company’s stock valued at $148,000 after acquiring an additional 1,241 shares during the last quarter.

Sportradar Group Company Profile

Sportradar Group is a global leader in digital sports data and content, delivering real-time statistics, analytics and sports betting solutions to clients across the gaming, media and sports federation sectors. The company aggregates and processes live data from more than 800,000 sporting events each year, providing feeds for pre-match and in-play odds, visualization tools and managed trading services. Its products also include integrity services, which monitor betting markets for irregularities and help sports organizations safeguard competition outcomes.

Founded in 2001 and headquartered in St.